Bill Status of SB 2581   103rd General Assembly

Short Description:  ESTATE TAX-EXCLUSION AMOUNT

Senate Sponsors
Sen. David Koehler-Jil Tracy-Paul Faraci-Tom Bennett-Doris Turner, Jason Plummer, Sally J. Turner, Sara Feigenholtz, Michael W. Halpin and Dave Syverson

Last Action  View All Actions

DateChamber Action
  5/11/2023SenateReferred to Assignments

Statutes Amended In Order of Appearance
35 ILCS 405/2from Ch. 120, par. 405A-2

Synopsis As Introduced
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2024, the exclusion amount shall be the applicable exclusion amount calculated under Section 2010 of the Internal Revenue Code, including any deceased spousal unused exclusion amount (currently, the exclusion amount for Illinois estate tax purposes is $4,000,000). Effective immediately.

Actions 
DateChamber Action
  5/11/2023SenateFiled with Secretary by Sen. David Koehler
  5/11/2023SenateFirst Reading
  5/11/2023SenateReferred to Assignments
  9/5/2023SenateAdded as Chief Co-Sponsor Sen. Jil Tracy
  9/7/2023SenateAdded as Chief Co-Sponsor Sen. Paul Faraci
  9/8/2023SenateAdded as Chief Co-Sponsor Sen. Tom Bennett
  9/13/2023SenateAdded as Chief Co-Sponsor Sen. Doris Turner
  9/20/2023SenateAdded as Co-Sponsor Sen. Jason Plummer
  10/2/2023SenateAdded as Co-Sponsor Sen. Sally J. Turner
  10/11/2023SenateAdded as Co-Sponsor Sen. Sara Feigenholtz
  11/2/2023SenateAdded as Co-Sponsor Sen. Michael W. Halpin
  2/16/2024SenateAdded as Co-Sponsor Sen. Dave Syverson

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